Ternium Closes Loan

Ternium Closes Loan

November 11, 2013

Ternium has closed a 5-year, $800m amortizing term loan involving 11 banks, according to people following the sale. The loan, which is tied to a leverage grid at Libor+137.5bp, was heard to be oversubscribed. Bookrunners Bank of Tokyo-Mitsubishi, Credit Agricole, HSBC and Natixis are have added MLAs BBVA, EDC, Intesa Sanpaolo, Mizuho, Scotiabank, Sumitomo Mitsui and UniCredit. The Argentine steelmaker previously visited the loan market when it took out a $700m 5-year amortizing senior unsecured loan in 2012, paying Libor+337.5bp, to help fund the purchase of $2.7bn worth of shares in Brazil’s Usiminas.

Ternium has closed a 5-year, $800m amortizing term loan involving 11 banks, according to people following the sale. The loan, which is tied to a leverage grid at Libor+137.5bp, was heard to be oversubscribed. Bookrunners Bank of Tokyo-Mitsubishi, Cre